Albemarle (ALB) Scheduled to Post Earnings on Wednesday

Albemarle (NYSE:ALB) will announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Albemarle Price Performance

Shares of NYSE:ALB opened at $100.57 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The stock has a market capitalization of $11.82 billion, a PE ratio of -21.26 and a beta of 1.55. The firm has a 50 day moving average of $92.35 and a 200-day moving average of $100.75.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, December 13th. Albemarle’s payout ratio is -34.25%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ALB shares. Royal Bank of Canada reduced their price target on Albemarle from $128.00 to $111.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. UBS Group decreased their target price on Albemarle from $124.00 to $109.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Bank of America dropped their price target on Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird decreased their price target on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Mizuho cut their target price on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $117.30.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.